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...sentencing, was given 25 years; and former Enron chief executive Jeffrey Skilling got 24 years. In April 2008, a federal judge in Colorado sentenced 72-year-old Norman Schmidt to 330 years for using money from his investment scheme to purchase properties near Aspen and eight NASCAR race cars, among other items. Similar to Madoff's scheme, Schmidt's firm would send investors fraudulent monthly statements claiming big returns on their investments and urged them to contribute more cash...

Author: /time Magazine | Title: The Penalty for 'Extraordinary Evil': Madoff Gets 150 Years | 6/29/2009 | See Source »

...Will East Asia win the green race? The Europeans, who are leading the way on carbon-trading, are very much in the game, particularly in recycling and solar and wind power. Japan, China and South Korea also have some delicate issues to settle. One of the most contentious is likely to be intellectual-property protection, which is not particularly strong in China. And the U.S. may still be a contender. Sputnik sparked an extraordinary American effort that culminated in Neil Armstrong's 1969 moon walk, which sealed the U.S.'s supremacy in space. Last month, Washington launched a $25 billion...

Author: /time Magazine | Title: Asia Challenges the U.S. for Green-Tech Supremacy | 6/25/2009 | See Source »

...East Asia's bid for economic leadership in the low-carbon age may push the Americans - and certainly the Europeans - to intensify their engagement with green technologies. The space race spawned a lot of the advances in technology that we take for granted today. The green race may do the same thing for low-carbon products and processes - and in this competition, the world stands to be the real winner...

Author: /time Magazine | Title: Asia Challenges the U.S. for Green-Tech Supremacy | 6/25/2009 | See Source »

...characters who speak in an appallingly offensive ghetto patois, were my victims, I could live with myself. The world doesn't need more versions of Jar Jar Binks. But what if it were the Autobot leader, Optimus Prime? Optimus truly cares about the future of the human race, unlike the Obama Administration, which Bay represents as so prissy and antiwar it just wants the alien robots off the planet. Bay's Obama would probably drive his Prius over Optimus if he had the chance. But no problem; if you still had your hearing in the deafening home stretch of Revenge...

Author: /time Magazine | Title: Transformers: Revenge of the Fallen Falls Short | 6/24/2009 | See Source »

...health care as the top five issues most Indonesians care about, SBY is the only candidate regularly polling above or near 50%, the threshold necessary to win in one voting round. Still, some polls - and it is difficult to know which surveys are unbiased and reliable - show the race getting closer. Failure to reach that will send the top two vote getters to a second round in September, something the incumbent and front runner would probably like to avoid. "The question now is whether it is better for SBY to win with a slight margin in one round...

Author: /time Magazine | Title: In Indonesia Vote, Change Not on Ticket | 6/24/2009 | See Source »

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